ZEDRA Reaches Agreement to Acquire LJ Fiduciary
GENEVA, Nov. 4, 2019 /PRNewswire/ -- ZEDRA Group, the fast-growing global specialist in Trust, Corporate and Fund Services has today announced the acquisition of LJ Fiduciary, from investment firm Alvarium. LJ Fiduciary will be rebranded and merged into the existing ZEDRA network. The deal is subject to local regulatory approval.
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LJ Fiduciary's Swiss and Isle of Man service offering encompasses global private client, fund and corporate administration services that will enhance ZEDRA's strategy in the 'active-wealth' space offering. This concept embraces the dynamic way ZEDRA assists wealthy families and individuals in their investment needs, by recognising that modern wealth is multifaceted and that ZEDRA is a partner that can deliver the full array of tailored, streamlined and efficient solutions.
Commenting on the acquisition, Ivo Hemelraad, ZEDRA Group Director said: "This acquisition will give us an important opportunity to fast track our growth by diversification into different client segments in these two jurisdictions, Switzerland and the Isle of Man. It will reinforce mutual strengths and strong existing market positions. LJ Fiduciary has a first class client and staff base and we look forward to welcoming both into the ZEDRA Group."
Robert Burton, Head of LJ Fiduciary: "By joining forces with Zedra we believe our clients will benefit from enhanced global reach and a very positive cultural fit in a combined firm which will continue to focus on delivering high quality services to meet client needs. LJ Fiduciary teams will ensure a smooth transition to the combined firm without disruption to our clients or their activities."
The deal adds nearly 50 new staff to ZEDRA's existing headcount of over 500 industry experts across 13 countries, spanning Asia, Oceania, the Americas and Europe. Total staff in Switzerland will now number over 70 whilst in the Isle of Man, staff numbers will exceed 100.
ZEDRA recently announced the acquisition of Talenture, an independent corporate services provider specialising in delivering consulting and corporate services solutions for international entrepreneurs and corporations in Lugano, Switzerland.
Last year, ZEDRA announced a strategic partnership with Corsair Capital in which the private equity group plans to take a majority stake in the Group.
About ZEDRA
ZEDRA is an independent global specialist in Trust, corporate and fund services.
Our highly experienced teams deliver tailored high quality solutions to our clients who include high net worth individuals and their families seeking diversified active-wealth solutions, as well as, medium to large sized companies, asset managers and their investors.
Our full range of services is designed to preserve and protect the real value of our clients' assets and our entrepreneurial outlook helps and supports our clients in unlocking their ambitions for growth and expansion, no matter how complex their challenges might be.
We pride ourselves on getting to know our clients so that we can anticipate their continually evolving needs and allow them to focus on their core business and broader family interests. ZEDRA's global footprint enables us to deliver bespoke solutions that meet the local and international requirements of the increasingly demanding regulatory environment
ZEDRA inherited a wealth of knowledge and experience following its acquisition of trust businesses of a renowned bank in 2016. This solid foundation combined with innovative thinking has allowed ZEDRA to grow rapidly in a competitive marketplace to a team of 500 industry experts across 13 countries spanning Asia, Oceania, the Americas and Europe.
In November 2018, Corsair Capital, a leading private equity firm, made a substantial investment in ZEDRA. ZEDRA's management team, who own a substantial portion of the business, were confident that the additional investment would enable ZEDRA to capitalise on its inherited know how and long term relationships and do more to anticipate and meet all of our clients' needs.
About Alvarium
Alvarium is an independent global investment firm offering tailored solutions for families, foundations and institutions.
Built on a traditional merchant banking model, Alvarium acts as trusted advisors in public and private markets to identify talented managers and direct investment opportunities through three divisions: (1) investment advisory; (2) co-investments; and (3) merchant banking advisory.
The firm currently advises in excess of $15bn in assets in Europe, Asia and the Americas.
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SOURCE ZEDRA Group
